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NEW YORK, Nov. 18, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for the Southern District of Texas on behalf of all persons or entities that purchased the securities of Flotek Industries, Inc. (NYSE: FTK) ("Flotek" or the "Company") between October 23, 2014 and November 9, 2015, inclusive (the "Class Period").
Shareholders who incurred losses on shares purchased within the Class Period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Flotek Industries, Inc. during the period October 23, 2014 through November 9, 2015, inclusive, you may, no later than January 11, 2016 request that the Court appoint you lead plaintiff of the proposed class.
The filed lawsuit alleges that throughout the Class Period, the Company issued materially false and misleading statements to investors regarding its proprietary software application FracMax. On November 9, 2015, an analyst firm published a report stating that the information released in a Company presentation on September 11, 2015 was inaccurate and that an available version of FracMax did not work. On this news, Flotek's stock price declined from $18.10 to $14.60 per share. On November 10, 2015, the Company issued a press release admitting some of its errors. In reaction, the stock price declined further to $9.04 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Flotek Investigation."
Attorney Advertising. Prior results do not guarantee or predict a similar outcome.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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